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we were very concerned because we thought the budget was going to be -- the deficit was going to be about $150 billion. that shocked everyone into action. then, unlike now, there remains some degree of bipartisanship. there was comity, there was discussion, even as we battled over the budget, we worked together in a bipartisan way on many other issues. you didn't have the total polarization that you have today. >> i mean, when you were elected senate majority leader, i understand one of the first people that you called was the minority leader, senator dole. >> that's right. i called him right away, i went to see him almost immediately, and i said to him look, you've been here a long time, i'm relatively new, these are very tough jobs in the best of circumstances, and if we don't have some degree of trust between us, they will be impossible jobs. so i said to him i want to tell you how i intend to behave toward you and to ask that you behave towards me in the same way. and we agreed on the most basic of things. i told him i would not surprise him, that's important in the senate. that he wo
we were very concerned because we thought the budget was going to be -- the deficit was going to be about $150 billion. that shocked everyone into action. then, unlike now, there remains some degree of bipartisanship. there was comity, there was discussion, even as we battled over the budget, we worked together in a bipartisan way on many other issues. you didn't have the total polarization that you have today. >> i mean, when you were elected senate majority leader, i understand one of...
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Dec 3, 2012
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so i think what the white house is signaling is that at a minimum, any deficit package has to include this immediate february and march debt ceiling that we're going to hit. >> is jack lew the current chief of staff and former budget director the top candidate to be treasury? what is your best guess? >> he appears to be the frontrunner from everything you see and read and hear and he is a -- i've known him a long time. he's an accomplished guy. he knows these issues perfectly. he has worked in the financial community and has a sense of that and vice versa. and so i think he would be a it terrific choice. >> we should say there are a couple other people who have been rumored to being vetted. roger altman, former treasury official, larry fink, be erskine bowles. this what is alan simpson, erskine bowles' partner in the deficit commission, had to say about that possibility last week on the show. >> he said he would be very pleased to do that. he shared that with me personally, as long as they move the treasury department to north carolina, to charlotte. i don't think -- >> he's worked so
so i think what the white house is signaling is that at a minimum, any deficit package has to include this immediate february and march debt ceiling that we're going to hit. >> is jack lew the current chief of staff and former budget director the top candidate to be treasury? what is your best guess? >> he appears to be the frontrunner from everything you see and read and hear and he is a -- i've known him a long time. he's an accomplished guy. he knows these issues perfectly. he...
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Dec 6, 2012
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that's a drop in the bucket compared to our $16 trillion debt, trillion dollar deficit. what a lot of people are saying and arguing when they look at this situation is if you're really going to be serious about deficit reduction it can't just be about taxes. it has to be about spending cuts, too. >> on that point of spending it's always important to remember where do we spend money in the federal budget? you put together to remind us where we spend the most of the money. >> the bulk of our money is going to entitlement programs like social security medicare medicaid medicaid. that's mandatory spending that's been budgeted based off what we spend on our taxes. the bulk of it is going there. 20% is going to defense. discretionary spending is 13% and 7% the interest we are paying on our debt. that's also mandatory and we have to make good on our debt. >> which is why anybody serious about the debt says you have to look at entitlements based on that. where are the areas for compromise? >> so when you look at where they're talking about cutting spending, it's in the discretio
that's a drop in the bucket compared to our $16 trillion debt, trillion dollar deficit. what a lot of people are saying and arguing when they look at this situation is if you're really going to be serious about deficit reduction it can't just be about taxes. it has to be about spending cuts, too. >> on that point of spending it's always important to remember where do we spend money in the federal budget? you put together to remind us where we spend the most of the money. >> the bulk...
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if you're really going to be serious about deficit reduction, it can't just be about taxes. it has to be about spending cuts, too. >> prince william and wife catherine is out of the hospital after being admitted for acute morning sickness. >> told the hospital stay would last at few days and that's exactly what it turned out to be. >>> software executive john mcafee no longer a fugitive. arrest arrested after his neighbor was murdered. >> police didn't know where he was. >> now that marijuana is legal here in washington the state will going to start cleshgting taxes on it. >> gangnam style. >> there is no one in political life funnier than alan simpson. >> mayor michael bloomberg announced new york will hold a contest to redesign the city's pay phones. now, a brand new -- >> "eye-opener" at 8:00 is brought to you by the aarp. >>> i'm charlie rose with gayle king and norah o'donnell. this morning prince william's wife catherine is back home in london after three days in the hospital. >> the pregnant duchess of cambridge was being treated for an acute form of morning sickness.
if you're really going to be serious about deficit reduction, it can't just be about taxes. it has to be about spending cuts, too. >> prince william and wife catherine is out of the hospital after being admitted for acute morning sickness. >> told the hospital stay would last at few days and that's exactly what it turned out to be. >>> software executive john mcafee no longer a fugitive. arrest arrested after his neighbor was murdered. >> police didn't know where he...
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Dec 5, 2012
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when i see a full deck of cards, that includes those participating in deficit reduction. it must be used over time and they can make very significant changes in the budget and do it in a way that does not damage our security. doing it abruptly as the fiscal cliff does, or any timeframe, it is not only inefficient, i think it endangers our security and our wrists. my final point is that missing element is primarily political will and i say that in regard to both political parties and the solution. the solution has to be forthcoming in the weeks ahead in the months ahead require our leaders and put our nation first. that has to be the primary focus of our political leadership. to put the interest of our country first. thank you for your leadership, thank you as well mike mullen. it is also a great privilege to be here with john warren and mr. isaac skelton. ,. >> thank you. thank you for putting this effort together. we thank admiral mike mullen, whose efforts have been outstanding for this effort. the late barbara -- barbara tuchman wrote a book entitled "march of folly."
when i see a full deck of cards, that includes those participating in deficit reduction. it must be used over time and they can make very significant changes in the budget and do it in a way that does not damage our security. doing it abruptly as the fiscal cliff does, or any timeframe, it is not only inefficient, i think it endangers our security and our wrists. my final point is that missing element is primarily political will and i say that in regard to both political parties and the...
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Dec 2, 2012
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. >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and balanced. and that kind of agreement would be good for our businesses, it'd be good for our economy, it would be good for our children's future and i believe that both parties can agree on a frame work that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> so right now, all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president, congressional democrats to tell the american people what spending cuts they're willing to make and we'd like to thank the president for adopting the fox news slogan there and as we get closer to the fiscal cliff, both sides seem to be standing tough and what about the coverage, jim in. >> i think the debate overall that began with simpson bowls saying we should roughly have tax cuts, tax increases, pardon me, and spending cuts and so the media narrative is sort of, can we get simpson bowls through a recalcitrant republican congress? and what's changed
. >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and balanced. and that kind of agreement would be good for our businesses, it'd be good for our economy, it would be good for our children's future and i believe that both parties can agree on a frame work that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> so right now, all eyes are on the white house. the country doesn't need a victory...
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Dec 7, 2012
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. >> the plan to reduce the deficit with bill clinton former chief of staff. those are your 5@5:30. doug luzader is life in washington with more. >> good morning, guys. we are looking for an important report coming out today. the expectation is -- first of all talking about unemployment. we know they fell. but the expectation today is that the unemployment rate will probably be unchanged which means it is stuck at about 7.9 percent. as far as the markets are concerned they are not exactly tanking but there is a lot of uncertainty. businesses and investors are unsure about what their tax burdens will be like this year. the impact that the fiscal cliff could have on the economy will go up across the board. >> as we get closer and closer to the end of the year i think the uneasiness will continue and the worry we might not see a resolution is going to effect our market. >> it has an impact or hiring as well. physical we go over the cliff the long-term benefits will in fact expire at the end of the year. as the president visited a family in virginia to talk about tax hikes on the wealth
. >> the plan to reduce the deficit with bill clinton former chief of staff. those are your 5@5:30. doug luzader is life in washington with more. >> good morning, guys. we are looking for an important report coming out today. the expectation is -- first of all talking about unemployment. we know they fell. but the expectation today is that the unemployment rate will probably be unchanged which means it is stuck at about 7.9 percent. as far as the markets are concerned they are not...
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Nov 29, 2012
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. >> the bipartisan bowl deficit plan had savings worth pursuing. >> they identified $1.1 trillion tax expenditures, benefits, deductions, credits and the like that could be cut as part of a grand bargain. i think we ought to look at that flat ten the code simplify it. >> harry reid told reporters yesterday he would like to get credit for what congress has previously cut. >> we have already done more than a billion dollars worth of cuts. >> the top democrat in the house took a similar approach. >> it is important to know that we have already agreed to over a trillion and a half dollars in cuts at both budget control and others in this session of congress. so now we are looking to see if we can do that. >> though asked what she would be willing to slash as part of this deal rank and file house members say they realize more must be done now. >> we get a senfolks making a mn dollars a year maybe they aren't able to access medicare. they have the means to buy their own healthcare. >> i know we can't afford to spend 690 billion on our defense but there are smart ways and dumb ways to cut de
. >> the bipartisan bowl deficit plan had savings worth pursuing. >> they identified $1.1 trillion tax expenditures, benefits, deductions, credits and the like that could be cut as part of a grand bargain. i think we ought to look at that flat ten the code simplify it. >> harry reid told reporters yesterday he would like to get credit for what congress has previously cut. >> we have already done more than a billion dollars worth of cuts. >> the top democrat in the...
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Dec 3, 2012
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but it's a $4 trillion plan, been out there a long time 1.6 trillion over the next years, cutting the deficit, 1.6 cutting the tax cuts for the wealthiest for americans, and medicare and medicaid and farm subsidies and other, $1 trillion in additional spending cuts that the house, the senate and the white house have already agreed to and then $800,000,000,000 in new spending new revenue from cuts and spending because of ending the war in iraq and in afghanistan. the president's budget is out there. on the republican side, there is nothing. i am going to get back to it. here it is, also guy in the way is boehner. you have heard me say this, that boehner is not a bad guy. i used to think that and if you let him go, he would make a deal. i don't believe that any more. i think boehner is out to -- he doesn't care about the middle class, and his goal is to let this country go over the fiscal cliff because he wants the economy to fail because he wants president obama to fail. john boehner, again, i think the worst speaker ever, it's a time for leadership, not for playing political games. american p
but it's a $4 trillion plan, been out there a long time 1.6 trillion over the next years, cutting the deficit, 1.6 cutting the tax cuts for the wealthiest for americans, and medicare and medicaid and farm subsidies and other, $1 trillion in additional spending cuts that the house, the senate and the white house have already agreed to and then $800,000,000,000 in new spending new revenue from cuts and spending because of ending the war in iraq and in afghanistan. the president's budget is out...
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Dec 4, 2012
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social security has not contributed to the deficit. social security should not be on the table. these guys hate social security so much, they want to get rid of social security and medicare so much that everything they put forward has to have cuts in medicare and social security. so that's a nonstarter. the president has said he's not going to touch social security. the president said he's not going to raise the eligibility age for medicare. and the president has also said jay carney said it again yesterday, he's not even going to consider any bill that continues tax rates for the wealthiest of americans. >> he will not sign an extension of the bush era tax cuts for the top 2%. full stop. >> bill: full stop. >> this is what i don't get about this. this is not some new idea. this is not something that obama is you know, pulling out of the clear blue sky. it is something he ran on. this is what the election was about. >> bill: and the people voting. >> overwhelmingly. >> bill: we have to go back to the beginning. these tax cuts were enacted by george w. bush in 2001. still a bad i
social security has not contributed to the deficit. social security should not be on the table. these guys hate social security so much, they want to get rid of social security and medicare so much that everything they put forward has to have cuts in medicare and social security. so that's a nonstarter. the president has said he's not going to touch social security. the president said he's not going to raise the eligibility age for medicare. and the president has also said jay carney said it...
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Dec 5, 2012
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this will congressman goes back to 1984. >> social security has nothingto to do with the deficit. social security is totally funded by the payroll tax levied on employer and employee. if you reduce the outgo of social security, that money would not go into the general fund to reduce a deficit. it would go into the social security trust fund. so social security has nothing to do with balancing a budget or erasing or lowering the deficit. >> ronald reagan's debate with walter mondale in 1984. >> i call it selective fawning. they love to quote ronald reagan but when he says something sensible, they disassociate. he is absolutely correct. one of the things the boehner proposal does is reduces social security benefits so if you are making a billion dollars, you get your tax cut but if you are an 85-year-old social security recipient, you get a social security cut. how is that fair? >> if only they would listen to ronald reagan and raise taxes when necessary and get their grum -- grimey hands off social security, we would all be better off. congressman steve israel, you are doing a grea
this will congressman goes back to 1984. >> social security has nothingto to do with the deficit. social security is totally funded by the payroll tax levied on employer and employee. if you reduce the outgo of social security, that money would not go into the general fund to reduce a deficit. it would go into the social security trust fund. so social security has nothing to do with balancing a budget or erasing or lowering the deficit. >> ronald reagan's debate with walter mondale...
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Nov 29, 2012
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but the other thing is remember this continued tax cut for the middle class is part of a deficit reduction package so the president is very much focused on getting rid of that debt and getting it off the backs of our kids but in the meantime, it is not necessary to raise tax rates on the middle class in order to get there. and if we did raise taxes on the middle class, it is not going to get us that far down the road. what will really get us down the road is getting back to the regular tax cuts, having the wealthiest of americans pay their fair share. letting the 2% go back up from 35% to 39% which they were under bill clinton. one final my2k story from doug up in vancouver washington. what do you say? >> caller: hey bill. let me put my bong down real quick here. [ laughter ] >> caller: you know, there is a certain bunch of us here that think that they're going to get us on entitlement. that's all they keep talking about. nobody's mentioning the military. so i'm with the other caller, the gal before that said let's go over the cliff. you're going to screw us anyway, you know what? everybod
but the other thing is remember this continued tax cut for the middle class is part of a deficit reduction package so the president is very much focused on getting rid of that debt and getting it off the backs of our kids but in the meantime, it is not necessary to raise tax rates on the middle class in order to get there. and if we did raise taxes on the middle class, it is not going to get us that far down the road. what will really get us down the road is getting back to the regular tax...
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. >> greta: when you became governor, you inherented a in--d a deficit. do you remember what it was? >> yes. the day before the election, the general election, it was $250 million. >> greta: million? >> uh-huh. keep in mind, the state budget is only 5.6 billion, so the day before the general election we were having it reported as $250 million. the day after the election it came $450 million. >> greta: what happened in those 24 or 48 hours? >> certainly the administration that was in place was not being truthful with the public, and so the day after i certainly was informed that the deficit was much bigger. >> greta: how does that happen? weren't the figures public? i mean, i assume that people were following and reporting on governor richardson as a steward of the economy here. >> no. that was not what was happening. when was coming out -- what was coming out of the governor's office were figures that were not being honest with the people. >> greta: you must have just about fallen over when you saw the number jump in a period of 24 or 48 hours. >> absolut
. >> greta: when you became governor, you inherented a in--d a deficit. do you remember what it was? >> yes. the day before the election, the general election, it was $250 million. >> greta: million? >> uh-huh. keep in mind, the state budget is only 5.6 billion, so the day before the general election we were having it reported as $250 million. the day after the election it came $450 million. >> greta: what happened in those 24 or 48 hours? >> certainly the...
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Nov 29, 2012
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the deficit is large. where's the rest of his plan? he has to show us his plan. house members would like to extend all current tax rates permanently. that brings certainly the to the economy. get a subsequent bill for the sequestration. work with president obama in a good faith effort to get pro growth tax reform. that would work. we've got the ryan budget that spends $7 trillion less than the president's budget. that would restore the confidence that the economy needs. >> greta: senator, thank you. >> thank you. >> greta: with time running out, you would think that president obama would call the house and senate leaders and ask them to the oval office, but apparently something is wrong with the white house phones. he's trying to outsource the job to you. take a look. >> i'm asking americans all across the country to make your voice heard. tell members of congress what a $2,000 tax hike would mean to you. call your members of congress, write them an email, post it on their facebook walls. you can tweet it using the #my2k. >> greta: why doesn't the president pick
the deficit is large. where's the rest of his plan? he has to show us his plan. house members would like to extend all current tax rates permanently. that brings certainly the to the economy. get a subsequent bill for the sequestration. work with president obama in a good faith effort to get pro growth tax reform. that would work. we've got the ryan budget that spends $7 trillion less than the president's budget. that would restore the confidence that the economy needs. >> greta: senator,...
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jenna: we heard a lot of different strategies, haven't we, doug, the ways to tackle the debt and deficit. is there any alternative that really exists besides cutting government waste and spending? >> reporter: one potential avenue they could take would be to actually fall off the fiscal cliff. that would necessarily make the difficult choices that congress and white house seem unwilling to make. tom schatz says that congress has a very typical way they approach these kinds of spending cuts. here he is again. >> with overlap and duplication is the proclivity in washington to create a program to solve a problem. something's wrong. we're not doing it right. we're falling behind in science and math. let's create five new programs. that has been the approach. >> reporter: as we speak treasury secretary tim geithner is meeting behind closed doors with the white house point man on congressional affairs with senate majority leader harry reid. perhaps we'll learn more about what kind of spending cuts the democrats are proposing after that meeting is done. jenna, back to you. jenna: we'll talk a l
jenna: we heard a lot of different strategies, haven't we, doug, the ways to tackle the debt and deficit. is there any alternative that really exists besides cutting government waste and spending? >> reporter: one potential avenue they could take would be to actually fall off the fiscal cliff. that would necessarily make the difficult choices that congress and white house seem unwilling to make. tom schatz says that congress has a very typical way they approach these kinds of spending...
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and i want to do all this while bringing down our deficits in a balanced and responsible way. [applause] now, on this last point you've probably heard a lot of talk in washington and in the media about the deadlines that we're facing on jobs and taxes and investments. this is not some run-of-the-mill debate. this isn't about which political party can come out on top in negotiations. we've got important decisions to make that are going to have a real impact on businesses and families all across the country. our ultimate goal, our long-term goal is to get our long-term deficit under control in a way that is balanced and is fair. that'd be with good for businesses, for our economy, for future generations. and i believe both parties can and will work together in the coming weeks to get that done. we know how that gets done. we're going to have to raise a little more revenue, we've got to cut out spending we don't need building on the trillion dollars of spending cuts we've already made, and if we combine those two things, we can create a path where america's paying its bills while
and i want to do all this while bringing down our deficits in a balanced and responsible way. [applause] now, on this last point you've probably heard a lot of talk in washington and in the media about the deadlines that we're facing on jobs and taxes and investments. this is not some run-of-the-mill debate. this isn't about which political party can come out on top in negotiations. we've got important decisions to make that are going to have a real impact on businesses and families all across...
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Dec 2, 2012
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we saw this in new jersey, where governor christie, and an $11 billion deficit. he had a fiscal cliff. he brought everybody in. he knew where the middle road was and -- >> he didn't fall off it. >> exactly. >> i'm joe smith. and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me lose my entitlements. pat goodell can that work? >> people want at the rich to pay more because, okay, they should pay more. at the same time they don't want the economy to go in the hole. the other thing is they don't want the country to go broke, and what the republicans fail to do they fail to community indicate. they couldn't communicate themselves out of 0 wet babier bag. they don't hold barack obama accountable. you're the president and should lead on spending. this move of his give himself powers no president has had you take that to the country and say, you want him deciding he can spend whatever he wants. >> like removing the debt ceiling. >> exactly. i'm saying that's th
we saw this in new jersey, where governor christie, and an $11 billion deficit. he had a fiscal cliff. he brought everybody in. he knew where the middle road was and -- >> he didn't fall off it. >> exactly. >> i'm joe smith. and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me lose my entitlements. pat goodell can that work? >> people want at the rich to pay...
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we saw this in new jersey where governor christie had 11 billion dollar deficit. he had a fiscal cliff. he knew where the middle road was, and he didn't it. >> he didn't fall off. >> exactly. that's what this president has to do. >> i'm joe smith and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me to lose my entitlements. pat, can that ever work? >> well i think that's what most people think right now. they want the rich to pay more because maybe we should have them pay more. at the same time, they don't want the economy to go in the hole. the other thing is they don't want the country to go broke. what the republicans failed to do is what you're saying. they failed communication case w50eus. wise. they don't hold ban barack baraa accountable. to give himself powers that no president has had, you take that to the country and say you want him deciding he can just spend whatever he wants? >> that's like removing the debt ceiling. >> exactly. >> that's wha
we saw this in new jersey where governor christie had 11 billion dollar deficit. he had a fiscal cliff. he knew where the middle road was, and he didn't it. >> he didn't fall off. >> exactly. that's what this president has to do. >> i'm joe smith and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me to lose my entitlements. pat, can that ever work? >> well i...
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it has no effect on deficit. it will have no effect on rescuing us and i think republicans ought not play that game. it doesn't help the economy. >> stephanie: how many times can we -- can it be said and proven the deficits were caused by the bush tax cuts? >> so obama created this whole fiscal cliff for an election issue. the amazing thing is no one talked about this during the campaign. it was the day after the election that suddenly d.c. and the d.c. press was abuzz about the fiscal cliff. this wasn't a campaign issue. no one even talked about it. >> stephanie: right. >> the idea that this is all obama's fault. it has nothing to do with the $3 trillion war paid for with taxes. >> stephanie: eric boehlert remains in the sidecar. we continue with right-wing world next on "the stephanie miller show." >> announcer: it's really weird but it's also the coolest thing i've ever heard in my whole life. >> announcer: it's "the stephanie miller show." that viewers like about the young turks is that we're honest. they can
it has no effect on deficit. it will have no effect on rescuing us and i think republicans ought not play that game. it doesn't help the economy. >> stephanie: how many times can we -- can it be said and proven the deficits were caused by the bush tax cuts? >> so obama created this whole fiscal cliff for an election issue. the amazing thing is no one talked about this during the campaign. it was the day after the election that suddenly d.c. and the d.c. press was abuzz about the...
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you can look at -- >> i agree. >> stephanie: tax cuts proveably caused these deficits. the social security does not -- doesn't add a cent to the deficit. >> i ran on this in a conservative district very clearly stated my position that i did not want to. i had to last time when the president asked us to, to extend all of the taxes for one year and that was a darn bitter pill for me to swallow. i was one of the democrats that voted on to get it through. i'm not going to do it again. it doesn't add to the economy and those top 2 don't need to get done. we all do agree on the bottom ones and i just -- i think now they've got themselves in a pretty tight box. i hope you keep beating the drum on this. >> stephanie: i think you're a helper. you're giving them an out. >> always the helpful teacher. [ laughter ] >> stephanie: representative tim walz of the great state of representative, thank you. talk to you soon. >> thank you. >> stephanie: you know what he is? he's someone who gets it done. brought to you by granger. >> oh, my god! >> stephanie: that's right. with over 900,00
you can look at -- >> i agree. >> stephanie: tax cuts proveably caused these deficits. the social security does not -- doesn't add a cent to the deficit. >> i ran on this in a conservative district very clearly stated my position that i did not want to. i had to last time when the president asked us to, to extend all of the taxes for one year and that was a darn bitter pill for me to swallow. i was one of the democrats that voted on to get it through. i'm not going to do it...
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. >> stephanie: they said deficits don't matter. quote dick cheney or whatever. [ whatever ] who can remember. >> who can say. >> stephanie: by the way wow guess who relayed a lot of bad intelligence on tv shows. senator john mccain and lindsey graham. >> i think once they said there were weapons of mass destruction in iraq. >> stephanie: yes, they're accusing susan rice, and their own moment of relaying bad intelligence. in 2003 they made appearances on "meet the press"; "face of a nation" where they said saddam hussein had weapons of mass destruction. for 1 years we've been playing this game trying to get this man to part with his weapons of mass destruction. mccain on "face of a nation" also made the case for the war based on weapons--wmd, and not being straightforward is a very reckless charge. there is not a doubt in my mind that saddam hussein would give out weapons of mass destruction. so basically wrong wrong wrong about everything. [ buzzer ] possibly even misleading the american people. >> by the way saddam hussein had not
. >> stephanie: they said deficits don't matter. quote dick cheney or whatever. [ whatever ] who can remember. >> who can say. >> stephanie: by the way wow guess who relayed a lot of bad intelligence on tv shows. senator john mccain and lindsey graham. >> i think once they said there were weapons of mass destruction in iraq. >> stephanie: yes, they're accusing susan rice, and their own moment of relaying bad intelligence. in 2003 they made appearances on "meet...
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we know we cannot deal with a serious deficit problem in this country as well as meeting our obligation to americans as well as making sure we protect the middle class. so he's put out a serious proposal of revenues and spending cuts and economic growth that does strengthen the middle class and get that economic growth. that's perfectly good starting point. the fact that speaker boehner rejected that, we're in a tough spot right now. what the republican leadership in the house has to do is say look here's what we want to do, here's what we believe we should do. they have to understand that the president won, the democrats gained seats in the house and the senate. the american people have said find that common ground, the beginning of that common ground is make sure we protect the tax cuts for the middle class. make sure we don't hurt the fragile economic recovery in the short term and let's deal with protecting medicare and deficit reduction for the long term. >> there's a piece in the "new york times" talking about the president's new negotiate i want aing style. it said mr. obama scat
we know we cannot deal with a serious deficit problem in this country as well as meeting our obligation to americans as well as making sure we protect the middle class. so he's put out a serious proposal of revenues and spending cuts and economic growth that does strengthen the middle class and get that economic growth. that's perfectly good starting point. the fact that speaker boehner rejected that, we're in a tough spot right now. what the republican leadership in the house has to do is say...
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Dec 6, 2012
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then we get deficit reduction and it's a lot easier to do. i think the number is just enough, as i said, but it's still hard to get to. and it's going to require the business community coming in and saying to republicans in both the senate and the house, there's a lot of stuff in here we don't like, a lot of special interests won't like it, but the business community at large, particularly big business, saying this needs to get done and needs to get done before new year's eve. >> just do it. >> just do it. all right. >> all right. >> failure is not an option. >> it's not. it really isn't. >>> hillary clinton may insist she's leaving politics, but a new poll shows the majority of americans hoping she has a change of heart. the latest abc news/"washington post" poll shows 57% would vote for clinton in a 2016 presidential bid. 37% oppose of a potential campaign. clinton also has strong support in her home state of new york. in a siena college poll, 64% of new york voters say she should make a run, but new yorkers aren't as enthusiastic about the
then we get deficit reduction and it's a lot easier to do. i think the number is just enough, as i said, but it's still hard to get to. and it's going to require the business community coming in and saying to republicans in both the senate and the house, there's a lot of stuff in here we don't like, a lot of special interests won't like it, but the business community at large, particularly big business, saying this needs to get done and needs to get done before new year's eve. >> just do...
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but you've got to be committed to some kind of real deficit reduction. and that's where, beyond the spending, being serious about entitlements, there's got to at least be some framework that says, look, we are going to reduce the size and the scope of government. and that's -- finding that pain point on both sides so it's not a lopsided deal will at least give republicans the room to argue, look, we can take this pain. we've won some concessions back, but we have to do this. >> that should be done in private and together. >> and again, though, the ratio between tax increases to spending cuts is a wide, wide gap. medicare and medicaid and social security together, taken with interest and the debt, that's consuming every dime that's coming into washington, d.c., right now. people talk about -- democrats have talked about for a decade, the bush tax cuts. they've driven up the national debt. fine. if that's the case, why is it that the president, as you've said earlier, is embracing 98% of the bush tax cuts? >> except that isn't true. >> of course it's not t
but you've got to be committed to some kind of real deficit reduction. and that's where, beyond the spending, being serious about entitlements, there's got to at least be some framework that says, look, we are going to reduce the size and the scope of government. and that's -- finding that pain point on both sides so it's not a lopsided deal will at least give republicans the room to argue, look, we can take this pain. we've won some concessions back, but we have to do this. >> that...
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the fact is that social security doesn't add one penny to the deficit or the debt. let's get the facts straight on this. we've been looking at these entitlements, scrutinizing them. we've had bipartisan changes to social security to make it sustainable. we can do that again. don't blame social security and medicare for our problems. i would say a major part of the problem is health care expenses, and i think the affordable health care bill attacked that issue particularly. if we don't lower health care costs, we are not going to get the budget in balance regardless of what we do. >> we have below you daishg you can't see it. a new poll was taken. a majority didn't want to see cuts in medicaid and didn't want the eligibility age increase for medicare. >> you're absolutely right. you put more burden on the states. right now the states are struggling to keep their head above water as it is. if you put that burden on the states, then they are going to move accordingly to the towns and their taxpayers in that particular state. in my state of new jersey, we pay an exorbit
the fact is that social security doesn't add one penny to the deficit or the debt. let's get the facts straight on this. we've been looking at these entitlements, scrutinizing them. we've had bipartisan changes to social security to make it sustainable. we can do that again. don't blame social security and medicare for our problems. i would say a major part of the problem is health care expenses, and i think the affordable health care bill attacked that issue particularly. if we don't lower...
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it wasn't a secret he thought we should have a balanced approach to look at the deficit and higher income individuals need to pay more. if we don't ask, everybody else is hit harder. the president is coming off a victory, and it's very clear that on this specific issue the overwhelming majority of the american people support him. so that's a big difference. as we come to the end of this fiscal cliff, republicans have to choose. do they call for $5 trillion in tax increases over the next ten years or are they going to allow the middle class tax cuts to proceed? that's their choice, and i think people like tom cole recognize that it's unsustainable to take the position that nobody gets tax relief because they hold out for folks with 250,000 and over to get this extra tax cut on the portion of their income above 250,000. after all, what the president is saying on that part of your income above 250,000, you're going back to the clinton era tax raites, which is 4 cents on the dollar. >> congressman van hollen, thank you for your time. we'll see what happens next. thank you, sir. >>> we could s
it wasn't a secret he thought we should have a balanced approach to look at the deficit and higher income individuals need to pay more. if we don't ask, everybody else is hit harder. the president is coming off a victory, and it's very clear that on this specific issue the overwhelming majority of the american people support him. so that's a big difference. as we come to the end of this fiscal cliff, republicans have to choose. do they call for $5 trillion in tax increases over the next ten...
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Dec 1, 2012
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locale raising state and taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest: some of these are refundable which means you get money back even if your tax bill is zero. whatever the refundable amount is, you get to take home. host: we will go to ray in atlanta, georgia. caller: how much will an individual or can an individual receive who has two children in a single-parent household? what is the maximum amount of money they receive back in the form of tax credits? once you look at that and if there at that dollar level, we're finding their children for free and reduced lunch and i assume adding some additional money for their housing. w
locale raising state and taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest:...
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Nov 30, 2012
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because he wants to bring down the deficit. he wants to -- and has agreed to, and we've agreed to, over $1.7 trillion in spending cuts already for 2011, 2012, and 2013 and for the next decade. or at least until 2022. we've already agreed to that you press that, you were -- you pressed that, you were successful, we agreed on many of those. some we didn't agree on. but you had the votes, we needed to reach an agreement and we reached an agreement. we've cut almost $2 trillion of spending already. you're correct. we need to assure the fact that we pay for what we buy. and if we don't want to pay for it, my view is we shouldn't buy it. frankly, those tchash principle applies in my opinion to tax eexpenditures as well as to buying stuff. it all reduces your -- -- reduces your ability to pay for what you're buying. it's not that i'm technically correct, i'm correct. the bill i'm asking you to pass will simply give to the 98% of americans, taxpayers, the assurance that their taxes will not go up on january 1. if we dent don't pass it,
because he wants to bring down the deficit. he wants to -- and has agreed to, and we've agreed to, over $1.7 trillion in spending cuts already for 2011, 2012, and 2013 and for the next decade. or at least until 2022. we've already agreed to that you press that, you were -- you pressed that, you were successful, we agreed on many of those. some we didn't agree on. but you had the votes, we needed to reach an agreement and we reached an agreement. we've cut almost $2 trillion of spending already....
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Nov 29, 2012
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jobs went down, the deficit went up. we also know, reverend al, from the nonpartisan congressional office, that those tax breaks for the very wealthy people have virtually no impact on jobs and economic growth and that the proposals the president has made, both the middle class tax extension, plus his small business tax cut, taken together do a lot more than you would get in terms of job growth from providing the folks at the very top with this bonus tax break. so you've got to look at the president's entire plan, both the investment in our infrastructure as well as middle class tax relief and small business tax relief and that is the jobs plan for the future and no matter what republicans say, the reality is that at the end of the day they are looking out for the folks at the very top. we know from our own history. >> yeah. >> that history is bankrupt. >> and these are things we need. if you look at what hurricane did to new york and new jersey, we certainly need to work on the infrastructure. congressman chris van holl
jobs went down, the deficit went up. we also know, reverend al, from the nonpartisan congressional office, that those tax breaks for the very wealthy people have virtually no impact on jobs and economic growth and that the proposals the president has made, both the middle class tax extension, plus his small business tax cut, taken together do a lot more than you would get in terms of job growth from providing the folks at the very top with this bonus tax break. so you've got to look at the...
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Dec 6, 2012
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so you've heard discussions about deficit reduction over the years and tax policy. guest: yeah. host: we always seem to focus on the out years. when it comes to a lot of these issues. do the out years ever come about or does policy get changed before any real cuts are made? guest: so that they are pushing -- they're delaying the pain is what you're saying and they'll come back and -- yeah. that has occurred, the very famous one is the doc fix. i'm sure you're familiar with. they back in the 1990's reduced payments to doctors through medicare and then decided that wasn't such a good idea after doctors said, we don't like that. and so now just like these tax extenders occur every year or every two years they do a doc fix where they make sure that the docs get paid as they had before. but they don't do that permanently. they just do it on a year by year basis because it looks better that way maybe or they just feel like maybe one day we'll come up with a long-term solution that threads the needle. but it's an issue but on the other hand, sure, they've been able to reduce the defici
so you've heard discussions about deficit reduction over the years and tax policy. guest: yeah. host: we always seem to focus on the out years. when it comes to a lot of these issues. do the out years ever come about or does policy get changed before any real cuts are made? guest: so that they are pushing -- they're delaying the pain is what you're saying and they'll come back and -- yeah. that has occurred, the very famous one is the doc fix. i'm sure you're familiar with. they back in the...
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marchese said tax increases are necessary to reduce the deficit. senator bob casey of pennsylvania chaired the hearing. >> the committee will come to order. we want to thank everyone for being here today. i did not have a chance to personally greet our witnesses, but i will have time to do that later. i want to thank both of our witnesses for being here. i will have an opening statement that i will make, and then i will turn it to dr. burgess. i know that vice chairman brady will be her as well. we know the challenges that we confront here in congress on a whole range of issues which are sometimes broadly described under the umbrella of the terminology, fiscal cliff -- when we confront those difficult challenges, we have to ask ourselves a couple of basic questions. one of the basic questions we must ask is, what will be the result and will be the impact as it relates to middle income families? what will happen to them in the midst of all these tough issues we have to work out? we know there is broad agreement that going over the so-called fiscal c
marchese said tax increases are necessary to reduce the deficit. senator bob casey of pennsylvania chaired the hearing. >> the committee will come to order. we want to thank everyone for being here today. i did not have a chance to personally greet our witnesses, but i will have time to do that later. i want to thank both of our witnesses for being here. i will have an opening statement that i will make, and then i will turn it to dr. burgess. i know that vice chairman brady will be her...
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budget deficit by over $1 billion over the next five years. . that is unpaid for as well. so again there are many ways that immigration can be looked at to reduce our budget deficit, and many concepts of comprehensive immigration reform, either through fees paid by those who violate the law, penalties paid, increased taxes going forward for those who would have to pay taxes under immigration reform, would actually reduce our deficit, but here we are with a solitary idea around immigration that forces all members of this body to weigh two valuable programs against one another. and at the same time cost taxpayers over $1 billion over the next five years. it's a choice that congress shouldn't face. there are also very legitimate concerns that not only does this bill weigh two valuable programs , but in fact it's a backdoor way to reduce the number of legal immigrants. there should be no hesitation in saying it by reducing the number of legal immigrants we will increase the number of illegal immigrants. so again this bill will likely increase the nu
budget deficit by over $1 billion over the next five years. . that is unpaid for as well. so again there are many ways that immigration can be looked at to reduce our budget deficit, and many concepts of comprehensive immigration reform, either through fees paid by those who violate the law, penalties paid, increased taxes going forward for those who would have to pay taxes under immigration reform, would actually reduce our deficit, but here we are with a solitary idea around immigration that...
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Nov 29, 2012
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senate to pass important legislation, including the grand rudman deficit law. those issues remain important today. he did not aspire to be a politician. he did not have to like one. he cared deeply. we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most telling about warren rudman is the statement that represents what he was all about. he once said -- i consider myself an american first and a republican second, fiercely independent, and totally committed to the common good. he had the carriage of his convictions and stood for what he believed in. in bidding farewell to to the senate in 1992, he expressed gratitude for the opportunity to serve in the senate which talented colleagues. many are here today to speak about their experiences with him. he expressed his hopes for the future of the senate, saying it is a special place with special people. i hope in the coming yea
senate to pass important legislation, including the grand rudman deficit law. those issues remain important today. he did not aspire to be a politician. he did not have to like one. he cared deeply. we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most telling about warren rudman is the statement that...
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you want to talk about the deficit roger robert you know you. get my figure. back robert you know and the wall street and the people in wall street are all the . you know the bankers than all greater well i absolutely agree with you robert and very much appreciate you raising the topic i had senator sanders on a radio show last week and he's and he's saying you know the banks just crashed the economy why not have the banks pay for it and there's a number of number of people saying this it's you know pretty pretty obvious the banks just crashed the economy if we simply put eight point two five percent or even a point one percent tax on every stock transactions called a security security transaction excise tax stepped excess t.-t. is what they used to be called abraham lincoln put it on track stock trades to help pay for the for the civil war then then it went away through the through the gilded age and then in one thousand nine hundred eight one thousand nine hundred eight the mckinley administration put it back into place to pay for the spanish-american war it
you want to talk about the deficit roger robert you know you. get my figure. back robert you know and the wall street and the people in wall street are all the . you know the bankers than all greater well i absolutely agree with you robert and very much appreciate you raising the topic i had senator sanders on a radio show last week and he's and he's saying you know the banks just crashed the economy why not have the banks pay for it and there's a number of number of people saying this it's you...
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it's exactly what happened during the clinton administration group old spending and quadrupled the deficit then this fall and you're going to you know god has influence or an article written in one thousand nine hundred six that sort of led to believe in it that became like the foundation trilogy if we really had really as for thirty two years this is been this is been the republican party tonight and your eyes are big enough to remember that the clinton administration yes first week that bill clinton right after the election the first week after the election when the republicans were screaming about what the national debt there had been no discussion about it at all for twelve years before. or that they were in the wreck during the time the reagan radio who knew of primary had a one hundred day ross perot is not talking about the rally going to the jack raid well yeah george testbench w. bush tries talking about but he was talking about the trade george not the not the know you start of the federal budget and george h.w. bush actually wanted to assert the line item veto you know that you
it's exactly what happened during the clinton administration group old spending and quadrupled the deficit then this fall and you're going to you know god has influence or an article written in one thousand nine hundred six that sort of led to believe in it that became like the foundation trilogy if we really had really as for thirty two years this is been this is been the republican party tonight and your eyes are big enough to remember that the clinton administration yes first week that bill...
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Dec 2, 2012
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senate to pass important legislation, including the gramm-rudman deficit law, which was so important at the time. those issues remain important today. he did not aspire to be a politician, and he did not have to like one. he cared deeply. [laughter] we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most telling about warren rudman is the statement that represents what he was all about. he once said -- i consider myself an american first and a republican second. fiercely independent, and totally committed to the common good, he had the courage of his convictions and stood for what he believed in. in bidding farewell to the senate in 1992, he expressed gratitude for the opportunity to serve in the senate with talented colleagues. many are here today to speak about their experiences with him. he also expressed his hope for the future of the senate, saying it is a very special place with very spe
senate to pass important legislation, including the gramm-rudman deficit law, which was so important at the time. those issues remain important today. he did not aspire to be a politician, and he did not have to like one. he cared deeply. [laughter] we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most...
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drivers of the debt and deficit. they need to ring something out of the white house on that side of the equation. >> one thing to understand, when we hear the president say rates have to go up. there is no other way to make this work. this is a purely political statement, it has nothing to do with economics. his own commission, the debt reduction commission he pinted identified $1.1 trillion of what are called the tax expenditures. meaning loopholes and deductions out there. available every year. so over a decade that is $11 trillion of available revenues without raising rates. so all you need to do is get less than one in ten of the dollars. one in ten. you've got a $1 trillion in raised revenues without raising rates. the only reason the president insists on raising rates is because he knows it will destroy the republican unity. it will cause a complete fracture of the republican majority in the house. it will hand him a congress that he can then manipulate for the next two years at least. because the republicans w
drivers of the debt and deficit. they need to ring something out of the white house on that side of the equation. >> one thing to understand, when we hear the president say rates have to go up. there is no other way to make this work. this is a purely political statement, it has nothing to do with economics. his own commission, the debt reduction commission he pinted identified $1.1 trillion of what are called the tax expenditures. meaning loopholes and deductions out there. available...
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there is an interesting coalition, if you will, of very conservative deficit hawks and very liberal deficit hawks, if you will, who might come together and say, you know what, let the country go off the cliff. lack at those five-year projections. isn't this about short term versus long term? what do you say and what do you think your members would say? >> the best thing is to do something our spending problem and barring anything else, doing the automatic cuts that congress promised last year when they raised the debt ceiling would be better than doing nothing. it's separate from the ougautomc tax increase that happens on january 1. our preferred strategy here would be to accept the sequester now knowing that congress is not going to do something more rational. they're not going to take on more fundamental spending reforms and push off increasing taxes. and let's have a ration conversation about fundamental tax reform in the first six months of next year. nothing congress does in this panic is going to be rational public policy regardless of ideology. >> isn't it fair to say no matter what,
there is an interesting coalition, if you will, of very conservative deficit hawks and very liberal deficit hawks, if you will, who might come together and say, you know what, let the country go off the cliff. lack at those five-year projections. isn't this about short term versus long term? what do you say and what do you think your members would say? >> the best thing is to do something our spending problem and barring anything else, doing the automatic cuts that congress promised last...